Live Stock Exchange Updates: SGX Nifty Suggests Spread Opening for Indian Indices; HPCL, Zee in brief
#Fuel Price increase | Gasoline prices have increased by Rs 2.64 / liter and diesel prices by Rs 3.07 / liter over the past 18 days.
The price of petrol in Delhi is now at Rs 93.04 and at Rs 99.32 in Mumbai; diesel in Delhi costs Rs 83.80 while in Mumbai it is Rs 91.01 pic.twitter.com/Lu2ctHfSYP
– CNBC-TV18 (@ CNBCTV18Live) May 21, 2021
India cuts its 2020/21 sugar export subsidy by 31.4%
India on Thursday slashed export subsidies for sugar by 31.4% for the season ending September 30, according to a government order issued by the Ministry of Consumer, Food and Public Distribution . At the end of last year, India, the world’s largest sugar producer behind Brazil, approved subsidies of Rs 5,833 ($ 79.87) per tonne to encourage cash-strapped factories to export. 6 million tonnes of sugar in the current 2020/21 season. Government subsidies for sugar exports amount to Rs 4,000 per tonne, the Ministry of Consumer, Food and Public Distribution said on Thursday.
Elon Musk’s latest tweet almost doubles the price of Dogecoin in hours
A week after asking his Twitter followers if his electronic vehicle company Tesla should start accepting Dogecoin, Elon Musk tweeted again on Thursday, May 20, supporting the cryptocurrency, causing the price of the cryptocurrency to rise. . Following a tweet from Musk, the price of Dogecoin climbed to $ 0.40 from $ 0.29 earlier today after a frantic sell-off on May 19. Musk tweeted, “How much is that Doge in the Window?” According to Yahoo News, Musk’s tweet comes just hours after the cryptocurrency market fell into the red, apparently following another crackdown in China whose central bank issued a statement asking its financial institutions not to accept or not to process cryptocurrencies.
Oil surges, ready for biggest weekly loss since March on possible Iranian supplies
Oil prices edged up on Friday, taking a break after three days of losses as investors braced for a resumption of supplies of Iranian crude after officials said Iran and world powers advanced in negotiations for revive a 2015 nuclear deal. Brent futures for July rose 10 cents, or 0.2%, to $ 65.21 a barrel at 0032 GMT, while US West Texas Intermediate for July was at $ 62.16 per barrel, up 22 cents, or 0.4%. Both contracts are down nearly 5% for the week and are on course to post their biggest weekly loss since March after the Iranian president said the United States was ready to lift sanctions on the oil sectors , banking and maritime services of his country. Iran and the world powers have been in talks since April on relaunching the deal, and the European Union official, leading the talks, said on Wednesday he was confident a deal would be reached.
Early trends on the SGX Nifty suggest that Dalal Street could see a gap widening today.
# CNBCTV18Market | Early trends on the SGX Nifty suggest that Dalal Street could see a gap widening today.
SGX Nifty is trading around 15060 against Nifty May Futures previous close of 14.933 pic.twitter.com/4zjdLI1E6K
– CNBC-TV18 (@ CNBCTV18Live) May 21, 2021
First up, here’s a quick look at what happened in the markets on Thursday.
India’s benchmark stock indexes closed Thursday’s volatile session lower, dragged down by selling metals and financials. The Sensex slipped 337.78 points, or 0.68% to 49,564.86, while the Nifty closed 124.10 points, or 0.83% lower at 14,906.05. Smallcap and midcap turned lower to end in the red. Among sectors, Nifty Metal fell the most by more than 3%, followed by private banking, financial services, consumer goods and computer indexes. Gains were seen in the PSU banking and real estate sectors. On the Nifty50 index, Tata Steel, Hindalco, Coal India, Britannia and ONGC led the losses, while Cipla, M&M, BPCL, IndusInd Bank and Titan Company were the main index gainers.
Welcome to the CNBC-TV18 Market Live blog
Hello, readers! I’m Pranati Deva from the CNBC-TV18 market office. Welcome to our Market Blog, where we provide continuous live coverage of the latest developments in the stock market, business and economy. We’ll also provide you with instant feedback and guests from our stellar lineup of TV guests and internal editors, researchers and journalists. If you are an investor, we wish you a great trading day. Good luck!